Need a little extra cash? Come to the Source! We are rewarding our members for doing business with us with this special Loyalty Loan offer
(Please read the qualifications section below. This is a No Credit Check loan. Other loan types are available.)
Initial Loan:
- $1500 loan
- 14-month term
- Rate: 6.35%
- APR*: 17.763
- Finance document fee: $100
- Monthly payment example: $111.45
Returning (Subsequent) Loans:
- $2500 loan
- 24-month term
- Rate: 13.25%
- APR*: 17.496%
- Finance document fee: $100.00
- Monthly payment example: $119.23
QUALIFICATIONS
Member must maintain at least one qualifying deposit account (checking, savings, CD or Money Market), have been a member for one year or more, have eligible activity on the account such as direct deposit, debit card transactions, online bill pay, ATM withdrawals, etc. Or, have a minimum combined balance of $2500 or more for at least two years. If a member for less than one year, member may qualify with direct deposit of at least $350 per month average for six months. See MSCU representative for details or to confirm qualifications if unsure.
If you don't meet the qualifications above for the Loyalty Loan, don't worry. MemberSource CU has other loan options, such as a standard personal loan, credit card, or a line of credit loan with regular underwriting guidelines.
*APR is Annual Percentage Rate and subject to change without notice. APR is calculated including the $100 document fee. Other rates and terms available depending on credit worthiness. Member must be in good account standing and be current on all existing loans to be eligible. Member may not have more than one Loyalty Loan at a time. If a balance remains on a previous loan, it will need to be paid off by member's funds or proceeds from the new loan. Finance document fee will be taken automatically from loan proceeds, so no cash is required up front.
